Metanor Intersects 19.1 g/t Au over 3.6 metres at the Bachelor Mine down-plunge of Main Vein

May 29, 2018

1:09 pm

VAL-D’OR, Quebec, May 29, 2018 (GLOBE NEWSWIRE) — Metanor Resources Inc. (the “Company” or “Metanor”) (TSX-V:MTO) is pleased to announce drill results from the on-going underground drill campaign at the Bachelor Mine, including new high-grade results of 19.1 g/t Au over 3.6 metres, 12.0 g/t Au over 4.0 metres and 6.4 g/t Au over 21.8 metres. These new results have extended the deposit 183 metres or 600 feet below the lowest working level at Bachelor Mine and demonstrate the southeasterly plunging continuity to the deposit. Highlights from new drill holes include:

Intermediate Volcanic host with hematite-epidote-carbonate alteration and 2 – 5 % pyrite. Possible structure perpendicular to the Main vein. Further drilling required to confirm the structure.

Highlights of the last 37 drill holes that intersected gold mineralization are listed below:

Hole #

From (m)

To (m)

Length (m)

Au g/t

Zone

14-238

37.2

40.8

3.6

19.1

16-00-01

57.5

59.5

2.0

7.1

14-239

34.3

56.1

21.8

6.4

68.6

69.8

1.2

5.9

14-240

59.0

59.5

0.5

5.1

14-241

69.4

70.6

1.2

0.5

14-242

68.5

70.6

2.0

5.9

74.4

82.2

7.8

4.9

14-243

74.7

76.7

2.0

6.5

14-244

74.8

76.6

1.8

4.5

14-245

79.0

90.2

11.3

4.5

14-246

85.7

87.0

1.3

2.3

14-247

81.6

82.3

0.8

0.9

14-256

70.1

71.6

1.5

0.4

14-257

Trace

14-258

85.1

85.5

0.5

1.9

14-235

172.7

176.8

4.2

4.5

16-00-04

14-232

150.8

152.0

1.2

5.6

16-00-06

14-233

164.5

165.6

1.1

10.3

14-236

183.9

186.4

2.5

0.7

E17-170

420.7

424.4

3.7

4.7

Explo
deep

E17-171

495.7

497.6

1.8

3.7

E17-172

438.9

439.5

0.7

4.4

E17-174

Trace

E17-203

521.7

522.4

0.7

1.2

E17-204A

419.7

421.5

1.8

2.1

E17-205

382.5

383.5

1.1

5.5

E17-211

498.6

509.5

10.8

0.4

E17-212

Trace

E17-213

405.2

407.6

2.4

0.8

E17-218

375.2

379.0

3.9

6.4

E17-219A

362.3

363.8

1.5

8.4

E17-220

492.3

495.9

3.6

0.4

E17-221

475.5

476.2

0.7

3.7

E17-222

Trace

E17-223

Trace

E17-224

Trace

E18-225

343.3

345.8

2.5

6.0

E17-226

Trace

E18-234

361.5

365.5

4.0

12.0

*Stated intervals are core lengths as drilled, true thicknesses vary and average between 65% to 80% of core lengths.

Drillholes information:

Hole #

Azimuth

Dip

Length (ft)

Length (m)

UTM East

UTM North

Elevation

14-232

203

-32

560

171

416952.2

5483434.1

-296.6

14-233

209.5

-34

600

183

416952.0

5483434.3

-296.7

14-235

179

-37.5

660

201

416953.0

5483433.5

-297.2

14-236

203

-40

650

198

416952.2

5483434.1

-297.0

14-238

208

-30.3

275

84

417084.0

5483307.7

-366.5

14-239

217

-35.2

300

91

417083.8

5483307.8

-366.6

14-240

203

-37.3

300

91

417084.2

5483307.7

-366.7

14-241

191.5

-39.5

310

95

417084.5

5483307.6

-366.7

14-242

225.5

-39.4

335

102

417083.7

5483308.0

-366.6

14-243

213

-40.7

325

99

417084.0

5483307.9

-366.6

14-244

203

-42.8

335

102

417084.2

5483307.8

-366.7

14-245

232.5

-41.7

360

110

417083.6

5483308.2

-366.7

14-246

220.5

-45.1

360

110

417084.0

5483308.2

-366.6

14-247

208

-46.5

360

110

417084.3

5483308.1

-366.7

14-256

191.5

-45.5

325

99

417084.6

5483308.0

-366.7

14-257

184

-49

360

110

417084.8

5483308.0

-366.7

14-258

197

-50

360

110

417084.5

5483308.0

-366.7

E17-170

170

-48

2800

854

417002.4

5483560.2

-295.7

E17-171

154

-40

2000

610

417002.4

5483560.2

-295.7

E17-172

209

-52

1977

603

417002.4

5483560.2

-295.7

E17-174

239

-37

2000

610

417002.4

5483560.2

-295.7

E17-203

161

-47

1751.5

534

417002.4

5483560.2

-295.7

E17-204A

159

-36.7

1600

488

417002.4

5483560.2

-295.7

E17-205

182

-44.5

1450

442

417002.4

5483560.2

-295.7

E17-211

167.5

-50.5

1800

549

417002.4

5483560.2

-295.7

E17-212

204

-41.5

1450

442

417002.4

5483560.2

-295.7

E17-213

153

-35

1700

518

417002.4

5483560.2

-295.7

E17-218

167.5

-38

1400

427

417002.4

5483560.2

-295.7

E17-219A

164

-31

1350

412

417002.4

5483560.2

-295.7

E17-220

161

-45

1700

518

417002.4

5483560.2

-295.7

E17-221

150.5

-36

1760

537

417002.4

5483560.2

-295.7

E17-222

334

-30

900

274

416480.8

5483279.9

-293.0

E17-223

6

-50

875

267

416480.8

5483279.9

-293.0

E17-224

54

-51

1050

320

416480.8

5483279.9

-293.0

E18-225

182

-39

1400

427

417002.4

5483560.2

-295.7

E17-226

233

-32

1500

457

417002.4

5483560.2

-295.7

E18-234

198.5

-39

2095

639

417002.4

5483560.2

-295.7

Metanor continues to explore at Bachelor Mine with 2 underground diamond drill rigs drilling into the new Moroy zone. The diamond drilling in the Main vein will resume at depth once the Main ramp reaches the lower mineralized horizon.

Quality Control and Reporting Protocols

Metanor estimates that the actual thicknesses of the mineralized intersections are between 65% and 80% of the core lengths. No capping grade is used at this stage. The Company uses a rigorous QA-QC analytical program according to industry standards. The analytical results were done by pyroanalysis (A.A.) at the mine laboratory. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The company’s QA-QC analytical verification program requires that a minimum of 5% of the samples be audited at an independent laboratory. These audit assays were sent to ALS laboratory located in Val-d’Or, Quebec. The results of the audits are consistent with those obtained.

About the Bachelor Mine

The Bachelor Mine produces gold from a mineralized sub-vertical narrow vein system. Methods used are long-hole mining with rail-track access from a vertical shaft, and the new sub-level sector 14 is accessible from a ramp system. The ore is processed on site at the Bachelor processing plant using the activated carbon process. The mill is on site and accessible by a paved road.

Qualified Persons

Pascal Hamelin, P. Eng., President and COO, is the Qualified Person under NI 43-101, who is responsible for reviewing and approving the technical information contained in this news release.

Cautionary and Forward-Looking Statements

This press release includes certain statements that may be deemed as “forward-looking statements”. The potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. All statements in this discussion, other than those of historical fact, that address future exploration drilling, exploration activities and projected exploration, including costs and other estimates upon which such projections are based, and events or developments that the company expects, are considered forward-looking statements. Although the Company believes the expectations expressed in these forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.